TITLE
Recommendation to direct City Attorney to prepare a resolution, and any related documents, for the November 3, 2020 ballot for voters to consider a $298 million housing bond at $25 per $100,000 assessed valuation for the creation of affordable housing in Long Beach, with funds available for extremely low, very low, low, moderate, and workforce housing, crisis shelters and homeless services facilities, motel conversion programs, and other solutions to address the housing and homelessness crisis in Long Beach.
Direct City Manager to prepare a report on affordable housing needs in Long Beach, strategies to address housing affordability and homelessness, potential types of projects that could be funded with a housing bond, estimates on the number of units that could be constructed with a revenue source dedicated to affordable housing, and report back to the City Council within 90 days.
DISCUSSION
Homelessness and affordable housing are the top challenges facing communities across California, and Long Beach is no different. While Long Beach has been a leader in the creation of affordable housing and addressing homelessness through a seamless Continuum of Care approach, significantly more resources are needed to create more housing opportunities in the City.
An Ongoing Conversation
Long Beach has been proactive in addressing the crisis of homelessness and affordable housing. On May 2, 2017, the City Council started the discussion of identifying a new revenue source to address the housing shortage through the adoption of 29 recommendations on revenue tools and incentives and strategies to produce affordable and workforce housing. On September 25,2017, City staff returned to the City Council with one such option for a revenue source, outlining the cost of benefits of a housing bond that could meet some of the affordable housing needs in our city. Additionally, on December 11, 2017, the City Council launched the "Everyone In" Economic Inclusion Initiative -...
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